Soundtrap, which launched in 2015 after a few years of beta testing, offers users an online music studio and the ability to collaborate with others in real time. The Swedish startup, which has 35 employees, has both free and paid subscription plans. Neither company has revealed financial details about the acquisition, but the Swedish tech site Breakit says that last year Soundtrap was valued at around $30 million.

"The essence of Soundtrap is to give easy-to-use, collaborative, music-making capabilities to anyone with an electronic device and a passion for music," the company says in a blog post. The idea is that users can save projects to the cloud, then access and edit from any number of supported devices.

Spotify has reportedly made nine acquisitions since the start of 2016. The company also tried to buy SoundCloud late last year, but ultimately backed out of talks.